Groupon quarterly revenue exceeds analyst estimates
SAN FRANCISCO Aug 7 (Reuters) - Groupon Inc on Wednesday reported quarterly revenue of $608.7 million, a stronger-than-expected result that lends credence to the deals site's new mobile-centric strategy.
With its core, daily deals business model in steep decline over the past year, the Chicago-based company in recent months has re-invented itself as a more traditional e-commerce business that sells long-term deals through its smartphone app. Shares of the company have risen roughly 80 percent since Jan. 1.
Analysts on average expected $606.2 million in revenue, according to Thomson Reuters I/B/E/S.
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